Insider buying can be an encouraging signal for potential investors, especially when markets are uncertain.
With the new earnings season underway, this week's most notable insider purchases were made by 10% owners.
When insiders purchase shares, it indicates their confidence in the company's prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.
Today's 5 Stock Ideas:
Lordstown Motors (RIDE) - The stock was downgraded to Underweight (the equivalent of a sell ratings) by an analyst at Morgan Stanley. The analyst set a $2 price target on
Annovis Bio Inc (NYSE: ANVS) has announced efficacy data from the Phase 2 trial evaluating ANVS401 in Parkinson's disease (PD).
Data from 54 patients found that once-daily ANVS401 was superior to placebo in improving motor function.